China's stock market regulator CSRC has clarified that the IPO registration system will not be implemented on March 1st.
The CSRC says China's legislature body has approved its proposal on IPO registration reform and ordered the regulator to formally start preparation work from March 1st this year. The stock regulator says the public misread the decision and mistook March 1st as the date for the implementation of the IPO registration system.
The regulator reiterates that it was granted a time-slot of two years to prepare for the new system and it will inform the public once the implementation date is fixed. The regulator also claims that the implementation will advance in regular order, adding that the markets will not be flooded with a surge of IPOs.
